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Why are there so many people so obsessed with this? It's a base unit of measurement, and the problem is one of perception more than anything else. A single penn
by yock 16y ago
Why are there so many people so obsessed with this? It's a base unit of measurement, and the problem is one of perception more than anything else. A single penny is viewed as worthless, which is a problem of currency inflation, not of the penny itself.
How long will we be rounding everything to the nearest nickel before that too becomes so laborious that we move on to the dime? Quarter? Whole dollar? Where does it stop?
Instead of applying arbitrary rounding rules to currency transactions, we should enact policies that return value to that currency.
- mikecarlucci 16y agoPart of the solution will be the inevitable shift away from cash entirely. Paying electronically it doesn't matter if the price is $0.42 or $13.37. Just ceasing production of coins and bills would probably save a tidy sum. The problem of course is universal infrastructure. The half penny was eliminated too when physical money was the only option. It's just a tough bandage to pull.
- yock 16y agoNo move can be made away from hard currency without preserving a means for private, anonymous transactions.